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  • Fri, Dec. 2, 8:06 AM
    | Fri, Dec. 2, 8:06 AM | 9 Comments
  • Wed, Nov. 30, 1:35 PM
    • Lawmakers in Japan have reopened debate on allowing casino gambling.
    • The effort to approve casino development has the support of Prime Minister Shinzo Abe's Liberal Democratic Party, but will need extra votes from members of coalition partner Komeit to pass.
    • The initial bill being considered is a "decriminalization" law, while a casino gambling implementation bill will follow if the initiative stays on track.
    • CLSA thinks Japan could generate $40B in annual gambling revenue.
    • Casino operators with an eye on Japan include Galaxy Entertainment (OTCPK:GXYEF), Melco Crown (NASDAQ:MPEL), SJM Holdings (OTCPK:SJMHY, OTCPK:SJMHF), Las Vegas Sands (NYSE:LVS), Wynn Resorts (NASDAQ:WYNN) and MGM Resorts (NYSE:MGM).
    • Related ETF: BJK.
    | Wed, Nov. 30, 1:35 PM | 14 Comments
  • Tue, Nov. 29, 11:00 AM
    • Casinos in Nevada reported that gaming win revenue increased 11.12% to $986.20M in October. The four-month fiscal YTD revenue haul is +4.86% Y/Y.
    • Revenue on the Las Vegas Strip improved 14% to $562.7M. Strip fiscal YTD revenue +4.86%.
    • It's always interesting to dig into the gaming win details. For October, a 25% increase in revenue from sports books jumped out.
    • Nevada Gaming Control Board full report (.pdf)
    • Related stocks: CZR, CACQ, BYD, FLL, CZR, WYNN, MGM, LVS.
    • Related ETF: BJK.
    | Tue, Nov. 29, 11:00 AM | 6 Comments
  • Mon, Nov. 28, 10:14 AM
    • MGM Resorts (MGM +0.2%) could shoot up as much as 20% next year due to a boost in Las Vegas traffic, according to Barron's.
    • MGM generates 71% of its cash flow from its ten properties on the Strip and is poised to benefit from the addition of a NHL team in Vegas. There's also the possibility of a NFL relocation down the road.
    • Separetely, MGM China (OTCPK:MCHVF, OTCPK:MCHVY) was raised by HSBC to a Buy rating from Neutral.
    | Mon, Nov. 28, 10:14 AM | 4 Comments
  • Mon, Nov. 21, 9:04 AM
    • Japan Prime Minister Shinzo Abe continues to push forward with his goal to legalize casinos in the nation. The issue is being discussed at the current Diet session which runs through the end of the month.
    • Nomura thinks that if a casino bill is passed in Japan operators could be up and running in 2023. The investment firm thinks even just three casino complexes could being in $10B in revenue. Other firms such as Morgan Stanley have warned action this year is unlikely.
    • Casino operators with an eye on Japan include Galaxy Entertainment (OTCPK:GXYEF), Melco Crown (NASDAQ:MPEL), SJM Holdings (OTCPK:SJMHY, OTCPK:SJMHF), Las Vegas Sands (NYSE:LVS), Wynn Resorts (NASDAQ:WYNN) and MGM Resorts (NYSE:MGM).
    • Earlier this month, Bloomberg Intelligence predicted that Las Vegas Sands will be the first in line if casino legislation is passed.
    • Casino stocks have been in a gentle uptrend over the last week with a potential future Japan payday a background consideration.
    | Mon, Nov. 21, 9:04 AM | 7 Comments
  • Fri, Nov. 18, 11:52 AM
    | Fri, Nov. 18, 11:52 AM | 3 Comments
  • Fri, Nov. 18, 11:08 AM
    | Fri, Nov. 18, 11:08 AM | 3 Comments
  • Thu, Nov. 17, 8:28 AM
    • Sands China (OTCPK:SCHYY, OTCPK:SCHYF, LVS) rose 5.2% and Galaxy Entertainment (OTCPK:GXYEF) jumped 4.3% in Hong Kong trading as sentiment on the Macau gaming sector remains positive. Wynn Macau (OTCPK:WYNMF, OTCPK:WYNMY, WYNN) wasn't far behind with a 2.80% increase across the Pacific. MGM China (OTCPK:MCHVF, OTCPK:MCHVY, MGM) was only up 0.3%, but reached a 52-week high of HKD$15.38.
    • Sands China and Galaxy are the two top performers in the Hang Seng Index for November as revenue numbers from the region continue to solidify.
    | Thu, Nov. 17, 8:28 AM | 18 Comments
  • Mon, Nov. 7, 11:23 AM
    • Shares of MGM Resorts (MGM +2.7%) rose to a 52-week high of $28.30 earlier today after the company's Q3 results came in strong.
    • Standing out amid solid results in both China and the U.S. was the 11% increase in RevPAR for Las Vegas Strip properties.
    • RevPAR by Strip property: Bellagio +$22 to $258, MGM Grand +$15 to $166, Mandalay Bay +$17 to $198, Luxor +$14 to $110, New-York-New York +15 to $136, Monte Carlo +$12 to $123, Mirage +$6 to $157.
    • Previously: MGM Resorts EPS of $0.90 (Nov. 7)
    • Previously: MGM Resorts posts EBITDA growth U.S. and China (Nov. 7)
    | Mon, Nov. 7, 11:23 AM | 7 Comments
  • Mon, Nov. 7, 9:17 AM
    | Mon, Nov. 7, 9:17 AM | 4 Comments
  • Mon, Nov. 7, 8:01 AM
    • MGM Resorts (NYSE:MGM) reports revenue from U.S. properties increased 16% to $1.9B in Q3.
    • Adjusted property EBITDA rose 39% to $570M domestically.
    • U.S. property details: Occupancy rate +1 point to 97%, average daily rate +9% to $154, RevPAR +8% to $149.
    • Revenue from MGM China was down 6% to $500M. Adjusted EBITDA increased 17% to $150M on cost-cutting measure and casino table mix.
    • The company ended the quarter with a cash balance of $1.4B, inclusive of $430M at MGM China and $340M at MGM Growth Properties.
    • Previously: MGM Resorts EPS of $0.90 (Nov. 7)
    • MGM +4.32% premarket to $27.55.
    | Mon, Nov. 7, 8:01 AM | 2 Comments
  • Mon, Nov. 7, 7:47 AM
    • MGM Resorts (NYSE:MGM): Q3 EPS of $0.90 may not be comparable to consensus of $0.18.
    • Revenue of $2.52B (+10.5% Y/Y) beats by $140M.
    • Shares +3.8% PM.
    • Press Release
    | Mon, Nov. 7, 7:47 AM | 1 Comment
  • Sun, Nov. 6, 5:30 PM
  • Tue, Nov. 1, 2:34 PM
    • Gaming revenue in Macau rose 8.8% in October to 21.815B patacas ($2.726B), according to data from the Macau Gaming and Inspection Coordination Bureau.
    • The increase is the largest in Macau in over two years and sailed past nearly all estimates from investment firms.
    • Macau casino stocks: Wynn Macau (OTCPK:WYNMF, OTCPK:WYNMY), Wynn Resorts (WYNN +3.8%), Sands China (OTCPK:SCHYY, OTCPK:SCHYF) Las Vegas Sands (LVS +1.1%), MGM China (OTCPK:MCHVF, OTCPK:MCHVY), MGM Resorts (MGM +1.4%), Galaxy Entertainment (OTCPK:GXYEF -1.2%), SJM Holdings (OTCPK:SJMHF, OTCPK:SJMHY), Melco Crown (MPEL +7%).
    • Related ETF: BJK.
    | Tue, Nov. 1, 2:34 PM | 27 Comments
  • Mon, Oct. 31, 2:40 PM
    • There's a growing wave of support for a legalized sports betting framework in the U.S. to take advantage of the huge market and reel in some of the money going to off-shore and illegal betting options.
    • State lotteries, sports betting shops and Native American casino entities are all calling for action from Capitol Hill or on a state-by-state basis.
    • Professional sports league also cooperating. "We've been supportive of legalized sports betting, and we'll continue to be supportive," says NBA Senior VP Dan Spillane. Already in the mix, a NHL expansion team is due to debut in Las Vegas next year and the NFL is trying to lure the Oakland Raiders to the region.
    • Perhaps the most intriguing angle with legalized sports betting is the growing interest from tech firms in having their hands in the billions of dollars likely to flow through the U.S. betting market. ESPN reports that Microsoft (NASDAQ:MSFT) and Sony (NYSE:SNE) already have patents covering sports betting platforms, while some industry experts think a widespread mobile betting platform from a tech heavyweight is inevitable (Facebook or Google?).
    • What to watch: If Congress takes the final decisive step, a number of dramatic partnerships and M&A deals between Silicon Valley and existing casino operators could start flying.
    • Related ETF: BJK.
    | Mon, Oct. 31, 2:40 PM | 11 Comments
  • Mon, Oct. 31, 7:37 AM
    • MGM Resorts (NYSE:MGM) is willing to spend up to $9.5B on a large-scale casino resort in Japan if gambling is legalized, according to CEO James Murren.
    • The exec mentioned Tokyo, Yokohama or Osaka as potential sites for the project.
    • He thinks a REIT setup would work well with a Japan casino project.
    • "We think there would be a tremendous amount of demand, and ultimately a public listing of these types of Japanese resorts would be very appealing," noted Murren.
    • The Japanese government is reportedly going to consider a casino bill by the end of the year.
    | Mon, Oct. 31, 7:37 AM | 1 Comment